SPDR S&P 500 (SPY)

[gloe]

GDP -1% is being spun as "less bad" and the recession is easing.

But then there is this:

Recession was deeper in '08 than previously known

http://news.ino.com/headlines/?newsid=6899806965800
By JEANNINE AVERSA
AP Economics Writer
(AP:WASHINGTON) The recession inflicted even more damage on the economy last year than the government had previously thought.

The Commerce Department, in revisions issued Friday that date back to the Great Depression, now estimates that the economy grew just 0.4 percent in 2008. That's much weaker than the 1.1 percent growth the government had earlier calculated.

[more at the link]